Today there are 400,000 homeowners in
their final month of forbearance and another 1.2 million still in the program
as it winds down, thus, it is probably way too early to conclude that the
nation has a ducked a pandemic foreclosure bullet, However, the CoreLogic
report on June’s loan performance suggests we might just pull it off. The company says the U.S. foreclosure rate
in June was the lowest in over two decades. Not a surprise as the national moratorium
on bank repossessions was in force until the end of July. However, other
metrics in the report indicate that homeowners may emerge from the pandemic financially
damaged but with homeownership largely intact.

 

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